Loading ...“that was certainly bad timing on their part”
Let me state this one more time. They did a huge private placement at significantly below what the stock was trading for
at the time
- market conditions were not a factor.
aurum CEF
mrs aurum is off to visit her parents. They are aged and her father is having some health issues. I blackened sea scallops on the cast iron skillet on the grill, cooked brown rice with vegetables in it, had some Margaux. My conclusion is it is no fun cooking for yourself; and no fun doing kitchen and grill cleanup by yourself.
Even Barney did not help.
In spite of all that happens, enjoy what you have when you have it. I also attended a funeral this morning for a long term friend.
aurum
To my mind you do not stiff existing stockholders. If you believe in your stock you believe it is undervalued not overvalued. Or you wait until the placement can be done at or above market value.
I may be wrong on all this. I was planning to sell anyway - but that stunt really made me decide I will go back to GLD in spite of all their possible maneuvers. Again all I want to do is park some amount of fiat and then at some point get back an amount of fiat that corresponds to how fiat has done versus gold or silver in the mean time.
aurum CEF GLD SLV
I agree that was certainly bad timing on their part BUT that is the same day the game changed for all gold/silver holdings. That is the day that COX decreed that 19 financial stocks could no longer be shorted, the day before Paulson/Bernanke had hit the markets with the bailout of Freddie/Fannie, and the attack on the PM’s started. Not sure they could have know that was going to happen. JMO
Yep CEF took a big swan dive after the news came out but then again all the other PM stocks have done atrociously as well.
Have you emailed management and complained?
Ipso,
Well after this rant I can go organize the vegetable shelves - alphabetical order tall in back.
Notice the news on 7/15. Look at the chart based on that date. Now I did very well on my short term experience with CEF in the 2 months up to the news. But it could have been better if they had not done the private placement below the then current price.
Perhaps their website gives justification. Perhaps I am missing something. I should probably have contacted them for their side. I would if I were thinking of investing now.
aurum CEF
Received a notice in the mail yesterday that our little town of 1200 will be blessed with a 30% rise in water rates… Unanimously approved by the city council of old farts. My property taxes got a 30% increase overnight in 2006 to make certain our children get the education (indoctrination) required by the state.. Electric went up 30 % over past three years. I’m really glad inflation is being controlled. Much more of this joyous inflation containment and I will have to get a second job to keep up. I think this Nov. we may get a new council.
My campaign motto for this new Pres. election: “Change You Can Belize In”. Think I’m outta here.
Yep….when the story is done being told I’m afraid it’ll be apparent that SLV and GLD were created just in order to further the ponzi scheme and benefit the banksters. I guess it’s no surprise if we look at their founders and sponsors. Kinda like making a cash deposit with Bonnie Parker and Clyde. WHAT! They stole the money? 
Ain’t honest government great! 
Sometimes I think I can’t get any more cynical about the goobermint….but then I do.
As far as I know there was never any way with either ETF to sell and receive physical. Just a way to protect a certain amount of fiat compared to physical.
aurum GLD SLV
The SLV and GLD were great ideas for investors wanting exposure to gold and silver. Unfortunately, it also gave the corrupt banksters an additional avenue to manipulate price.
Who said anything about JPM letting the ETF fail?
The question is whether Barclays has sufficient silver to back the SLV.
They can always pay shareholders in fiat - problem solved.
Just to think, it took Morgan Stanley to figure it out. HELL, when Freddie announced that they were changing the time limit from 90 days to TWO YEARS before they said someone was in default - even “I” figured it out months ago. I have come to the conclusion that there is absolutely NO REGULATION in anything anymore - except for gold/silver and everything that I own!
-> Posted by floridagold @ 18:22 pm on September 6, 2008 “
That IS a surprise! Who would have thunk it. I’m so dissapointed. 